The US may be in for another recession as soon as late 2019, warns Chief executive officer of the National Association of Federally-insured Credit Unions Dan Berger.
“The recession could hit end of 2019 — maybe the first quarter of 2020, something Congress should take a look at so American consumers are protected,” Berger told The Hill on Monday.
Berger’s statements echo warnings made over the last week by some major Wall Street financial firm officials such as Bridgewater Associates Inc. and JPMorgan Chase & Co. who have also publicly forecast a probable market collapse in 2020.
The statements come on the 10th anniversary of the bankruptcy of the Lehman’s Brothers financial firm in September 2018, an event that marked the climax of the 2008 global financial crisis and the largest bankruptcy filing in US history.
President of the US National Bureau of Economic Research Martin Feldstein has warned that the next recession may be…